When and exactly what the changes to flood insurance premiums will be is a national political question, but what’s certain is that the program isn’t financially solvent. There are only a couple ways to address solvency issues, and one that FEMA is proposing is revising premium rates to better reflect flood risk.
In New York, one influential Senator is calling for more information about the proposed changes and their impacts to communities. Get the full story from Staten Island Live linked below.
The political opinions of Chuck Schumer are worth noting in Minot because we’re headed for two changes in the way FEMA rates flood risk in our area. First, there’s a new mapping process that’s long in the works that will put homes back . Second, there’s the new rate structure mentioned above. With that in mind, this story captures the rhetoric that’s starting to shape the larger political discussion.
